U.S. 4-week Treasury auction bid-to-cover ratio as of August 14

The SUI public chain has shifted from pursuing high performance to building programmable internet infrastructure, achieving rapid user growth and a rich ecosystem. With low gas fees and an easy development environment, SUI supports a variety of applications, demonstrating a robust funding structure and high developer retention rates. In the future, it will integrate traditional internet components, exploring Web3 applications and AI verifiability to enhance overall value and application prospects.

Hidden Gems in the Sui Ecosystem: The Rise of the Haedal Protocol The liquid staking market of the Sui network is in a booming early stage of development. Currently, the total value of staked SUI is approximately $307.48 million, of which only 2% is liquid. In comparison, 10.1% of staked SOL in the Solana network and 30.5% of staked ETH in the Ethereum network are liquid, indicating that Sui still has significant growth potential in the liquid staking field. Against this backdrop, a staking protocol named Haedal stands out, with a current TVL of $120 million, poised to become the leader in liquid staking within the Sui ecosystem. Haedal successfully addresses the issue of low annualized yield for staking on the Sui network through innovative technology and strategies. Haedal adopts a dynamic validator selection mechanism and an innovative Hae3 framework.

SUI Public Chain: From High Performance to Programmable Internet Infrastructure As the Web3 technology stack continues to evolve, smart contract languages are migrating from Ethereum-dominated Solidity to the more secure and resource-abstracting Move language. Move was initially developed by Meta for its cryptocurrency project Diem and features first-class resources and formal verification friendliness, making it an important choice for the underlying architecture of the next generation of public blockchains. In this evolutionary context, Aptos and SUI have become the dual core representatives of the Move ecosystem. Aptos was launched by the original Diem core team, Aptos Labs, continuing the native Move tech stack, emphasizing stability, security, and a modular architecture; while SUI was built by Mysten Labs, which inherits the Move security model and introduces object-oriented data structures and parallel execution mechanisms, resulting in a performance breakthrough.

The liquid staking protocol Haedal on the Sui network is rapidly rising, with a TVL of $117.36 million and a significant increase in volume. Through innovative dynamic validator selection and the HMM system, Haedal enhances staking rewards and liquidity, and is expected to lead the liquid staking market of the Sui ecosystem. Support from multiple venture capital firms further validates its development potential.

The Sui liquid staking hackathon has evaluated and announced six shortlisted projects, covering the liquid staking protocol and tools track. These projects include decentralized trading platforms, liquid staking protocols, and multisignature solutions, showcasing the innovative potential on the Sui network. Demo Day will be held on September 29, and the competition results will be announced on October 2.